Reports of mass global shift from China are being 'overplayed'
Reports of China losing its position as the world’s manufacturer, as shippers look to source ...
© Darryl Brooks -
By Alex Lennane
For Maine, no other sector has been hit as hard by the China-US trade war than its lobster industry. For lobster farmers in Maine, China has proved a lucrative market, and the region represents the US’s top producer and exporter of the crustacean. Last year, China consumed some $129m worth of the critters. Bloomberg writes that these farmers have been left with an uphill struggle following the tit-for-tat trade policies, with the US commander-in-chief seen as the key culprit in their difficulties. The problems have arisen alongside recent changes to the Canadian trade in lobsters, which now land on European shores duty-free. Some in Maine are considering opening bonded warehouses across the border so they can bypass tariffs and take advantage of Canada’s favourable trade arrangements with the EU.
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